Former head of Symbol Technologies named head of Monster Worldwide

Long Island Business News, Apr 12, 2007 by Ross Daly

Sal Iannuzzi, the former head of Symbol Technologies who oversaw the Holtsville firm's sale to Motorola, was named head of Monster Worldwide Inc., the parent firm of the online job site.

Iannuzzi, 53, who was head of Motorola's mobility enterprise division after the merger, will leave Motorola. Iannuzzi has been a board member of Monster Worldwide since July, 2006, and served as chairman of the executive committee since October.

Iannuzzi will take over for William M. Pastore, who is leaving by mutual agreement with the board. Pastore had been chief executive of Monster only since October, having taken over for longtime head Andrew McKelvey.

McKelvey stepped down amid a board-run investigation of Monster's handling of stock options.

Monster is one of many companies facing federal or internal investigations of its stock options practices. In December, Monster admitted it had overstated income from 1997 to 2005 by $271 million.

Shares in Monster (Nasdaq: MNST) dropped 13 percent April 4 to $42.10, the lowest level since 2003, after the company said it would miss its first quarter target. Monster shares opened slightly higher on the news today, to $40.40 in early trading.